The Indiana State sentinel. [volume] (Indianapolis) 1868-1895, 1887-05-18
THE WEEKLY TRADE REVIEW.
Depression in the Iron Market-DecreasS
of Business Failures.

OF business tauuress
New YORK. May 13.-R. G. Dun e Co.'s
weekly review says: a great revolution in
business is going on. With radically con-
ficting accounts of serious losses at some
localities and in some branches, and of
wonderful gains at other places, or in other
departments of trade and industry, the
difficulty OF reaching just conclusions re.
speeding the general tendency is much en-
HANGED, The interstate act is but one of
several causes which contribute to produce
this revolution in commerce; expansion in
the volume and change in the kind of cur
rency is another, not less important. Most
unexpected results are produced. The in
ter-state act clearly helps some who bitterly
opposed it, and as clearly inju res others
who expected great benefits from its oper-
alton. Thus, the river business of the
West is expanding under the influence of
the law, ana the railroads are at the same
time getting large earnings from the part OF
the traffic they retain, while not a few
cities tind, as Cincinnati does, that trade in
many lines is greatly embarrassed. One
general tendency is disclosed by the urgent
demands for suspension or change of the
law, especially from those who most
favored its enactment. Serious diversions
of trade from Western cities, which have
been chief centeTs of distribution, is in
progress, and multitude of smaller towns
are resping the benefit. Western pro 1ucts
do not as a rule, gain anything in Eastern
markets. If wheat has advanced 81 cents
since the act went into effect. c1tn and
oats have declined fraction, PORK is about
the same in price, lard = cent lower, hogs
q cent lower, and beef sells at the same
price. Cotton has been advanced = cent,
but this change, like the rise in wheat, is
clearly speculative, and therefore threatens
reaction through curtailment of demand.
Railroad building is not checked by the
act as yet and there is a probability that,
by encouraging traffic at may ms cad of
few centers of trade, the law may tend TO
the building of numerous loo Il roa is and
parallel rival lines.
The output of pig iron aga n in 3reases,
reaching about 139, 500 tons siuce May l. Bat
this is probably bigh-water mark for the
time, many furnaces in the Pittsb1rg re-
gion having since been banked because of
the coke strike, while other Easte IN fur
naces discontinue production on account
of rail rates. Enormous imports also tend
TO depression.
The lockout of stove -molders has in
creased in Importance aud suspicious are
growing that the manufacturers desire,
through a general SUSPENSION of work, to
reach higher range of prices for products.
Exports of wheat in April were 6,52i 061
bushels, against $3.50 972 last week, with
955, 200 barrels of flour, against 703, 12S last
year. Exports of breadstufs reached
$40, 534, 439 in value. against ST., 959 94S
last year, showing that the comparatively
quiet market in that month favored large
shipments. But prices have since climbed
rapidly, with sales of nearly S0,000,0OO
bushels in a week and exports are checked,
while accounts of seeding show great in
crease in acreage in Dakota and Minnesota.
Cotton exports in April were reduced IS
per cent. compared with last year, the
price having risen IS per cent, while goods
advanced only 3 per cent, Receipts are
now barely quarter those of last year, but
the crop prospects are more favorable.
The lumber trade shows an increase OF
demand, with scarcity in some lines.
The business failures for the last seven
DAYS number: For the United States. 1876;
for Canada, 80; total, 167, against 1S2 last
week and 176 the corresponding week last
year. Failures are decreasing in all parts
of the country, except perhaps Canada and
the provinces.